Sei Investments Co. Sells 32,693 Shares of KB Home (NYSE:KBH)

Sei Investments Co. cut its stake in shares of KB Home (NYSE:KBH) by 15.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 180,063 shares of the construction company’s stock after selling 32,693 shares during the period. Sei Investments Co.’s holdings in KB Home were worth $12,636,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of KBH. Capstone Investment Advisors LLC purchased a new position in KB Home in the first quarter worth about $935,000. Hancock Whitney Corp boosted its holdings in shares of KB Home by 311.0% in the first quarter. Hancock Whitney Corp now owns 16,219 shares of the construction company’s stock worth $1,150,000 after buying an additional 12,273 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of KB Home in the first quarter worth approximately $1,078,000. Entropy Technologies LP bought a new stake in KB Home during the first quarter valued at approximately $640,000. Finally, FCF Advisors LLC increased its holdings in KB Home by 102.9% during the first quarter. FCF Advisors LLC now owns 21,882 shares of the construction company’s stock valued at $1,551,000 after buying an additional 11,099 shares during the last quarter. Institutional investors own 96.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KBH. The Goldman Sachs Group increased their price target on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Royal Bank of Canada lowered KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target for the company. in a report on Thursday, September 5th. Evercore ISI raised their price objective on KB Home from $86.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Wells Fargo & Company lifted their price objective on KB Home from $70.00 to $80.00 and gave the company an “equal weight” rating in a research report on Monday, September 9th. Finally, Barclays increased their target price on shares of KB Home from $78.00 to $99.00 and gave the stock an “overweight” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, KB Home currently has a consensus rating of “Hold” and an average target price of $77.27.

KB Home Price Performance

Shares of KBH opened at $85.90 on Friday. The firm has a market cap of $6.46 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 0.89 and a beta of 1.81. KB Home has a 1 year low of $42.11 and a 1 year high of $89.70. The company has a 50 day simple moving average of $82.46 and a two-hundred day simple moving average of $73.51.

KB Home (NYSE:KBH) last issued its earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.02). KB Home had a return on equity of 15.66% and a net margin of 9.43%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm posted $1.80 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, sell-side analysts anticipate that KB Home will post 8.38 earnings per share for the current year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.16%. KB Home’s dividend payout ratio is currently 13.23%.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.